Creation Of The Third Largest Copper District In North America

TORONTO – Hudbay Minerals Inc. has entered into a definitive agreement to which Hudbay has agreed to acquire all of the issued and outstanding common shares of Arizona Sonoran Copper (ASCU), not already owned by Hudbay. The Transaction will result in Hudbay owning a 100% interest in ASCU’s Cactus project. The Transaction brings together two highly complementary copper growth assets in Arizona and strengthens Hudbay’s position as a premier Americas-focused copper company with a pipeline of long‑life, low‑cost assets located in tier-one jurisdictions. The acquisition is expected to enhance Hudbay’s long‑term copper production profile, expand its U.S. growth pipeline, and benefit from increasing demand for domestically produced critical minerals in the U.S.

Peter Kukielski, Hudbay’s President and Chief Executive Officer, said, “The acquisition of ASCU is a highly compelling transaction that further enhances Hudbay’s copper growth platform in the U.S. Cactus is a high-quality, large‑scale copper development asset in a mining jurisdiction that we know well. Together with the advancement of Copper World, this transaction creates one of the most significant copper districts in North America and reinforces Hudbay’s position as a premier copper growth company, while preserving financial flexibility and delivering long‑term value for shareholders.”

David Laing, ASCU’s Chair of the Board of Directors, said, “We are delighted to have the opportunity for our Cactus project to be sequenced into Hudbay’s portfolio of long-life and high-quality assets in the Americas. As part of Hudbay, the financial dilution and execution risks of constructing Cactus are significantly lessened, providing a clear path to copper cathode production. More importantly, in joining with Hudbay, we put the project in the good hands in what will become the 3rd largest copper district in North America.”